MUNICH According to a new study by the economic research institute IW Cologne, Bavaria is the second best location for industrial companies internationally. First place is taken by the USA, third by Switzerland. Germany as a whole comes in fifth place. Bavaria's Minister of Economic Affairs Hubert Aiwanger: “We see this outstanding result as a mandate to maintain Bavaria’s top industrial position, despite Corona. Bavaria’s traditional strength in the automotive and mechanical engineering sectors has been massively affected by the slump in exports and sales due to corona. The task now is to revive these markets and at the same time focus on high-tech and future technology. This includes areas such as alternative drives, hydrogen, artificial intelligence, automation and even medical technology. Expanding Bavaria’s leading position as a result. We can only remain at the top of the world rankings and secure jobs by strategically transforming the economy. Every internationally uncompetitive job that is axed in this country or relocated must be replaced by at least one innovative job. This is a huge challenge, but we have to face it and deliver.”
According to the study, Bavaria has even been able to increase its industrial share in the economic output since 2005. In most of the 45 industrialised countries studied though, the industrial share declined.